The mINISTERY OF ECONOMY will try to renew this Monday matches of DEudas in pesos for a total of $ 2.9 billion pARA which will offer Dollar Linkeg bonds and bonds tied to inflation in the next tender.
This was announced by the secretary of Finance, Pablo Quirno, through social network X. where he published the menu of financial instruments that will be made available to investors.
The call keeps land short short -term capitalizables, qThey are preferably for common investment funds, but also included long options.
And it is that the call is carried out In the midst of a context of a certain restlessness by the recommendations of the JP Morgan investment bank so that its clients disarm long -term positions in Argentina, what is known as the disarmament of Carry Trade positions.
In fact, it is speculated that through the S marketJUNCLE This week one of the large market investors made capital output operations for US $ 1600 million.
According to Quirno, Finance will offer:
In Lecaps: to August 15 (S15G5), on September 12 (S12S5) on October 17 (S17O5) and November 28 (S28N5)
In BCAP: They will be placed as of January 30 (T30E6) June 30, 2026 (T30J6) and January 17, 2027 (T15E7)
On the other hand it was included A bancer at March 31, 2026 (Tzxm6) and Linked dollar bonds October 31 (D31o5) and January 16 (D16E6).
With those two last finance instruments It seems to want to test if there is enough coverage demand. The bonus tied to the floating dollar expires after the parliamentary elections, so that if there was any unforeseen investor, Cubiero would be. On the other hand, instruments tied to inflation are offered, in case anyone is afraid of a devaluation and a price shoot.
The SBS Stock Society He pointed out that “given the new scheme announced a few weeks ago, the market will be attentive to which papers are offered in addition to short LECAPS (1 to 3 months) qThat the government said it will offer in each tender. ”
“The expiration AENfregar this time is low (approximately $ 2.9 billion) but, given the imminent completion of the operation with Lefisyou have to be expectant to see if the banking entities begin to disarm Lefis to partially go to short lecaps, ”they said.
On the other hand, the market will also take into account the Increase in interest rates that are resulting in the last called bids. In the last call they ranged between 35% and 40%.
On the other hand, The return government withdrew from the offer the Bontes 2030, which are bought with dollars, although they are charged in pesos. The Government would have said that it intends to issue for US $ 7,000 million and so far has placed US $ 1,500 million.
You have to have en says that the 4 series bopreal that the Central Bank tendered on Tuesday almost had no interest. He placed about US $ 26 million, at an equivalent price of $ 1,460.
As for the rollover level, In the previous call, in which $ 11 billion beat, The government achieved a level of 58%renewal.
Source: Ambito
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